OLD National Bancorp IN Reduces Stock Position in Ally Financial Inc. $ALLY

OLD National Bancorp IN cut its stake in Ally Financial Inc. (NYSE:ALLY) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 420,204 shares of the financial services provider’s stock after selling 135,458 shares during the quarter. OLD National Bancorp IN owned 0.14% of Ally Financial worth $16,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ALLY. Wellington Management Group LLP raised its stake in Ally Financial by 19.5% during the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider’s stock valued at $646,347,000 after buying an additional 2,332,610 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ally Financial by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,708,942 shares of the financial services provider’s stock worth $394,432,000 after buying an additional 295,048 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ally Financial by 7.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,071,504 shares of the financial services provider’s stock worth $274,978,000 after buying an additional 444,756 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Ally Financial by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock worth $243,795,000 after acquiring an additional 241,000 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Ally Financial by 0.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider’s stock worth $175,137,000 after acquiring an additional 20,198 shares during the period. 88.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ALLY shares. Truist Financial set a $54.00 target price on Ally Financial in a report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on Ally Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Weiss Ratings raised shares of Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Bank of America increased their price objective on shares of Ally Financial from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Finally, Evercore reissued an “outperform” rating and issued a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.29.

Ally Financial Price Performance

NYSE ALLY opened at $46.24 on Friday. The business’s fifty day moving average is $43.63 and its 200 day moving average is $42.57. Ally Financial Inc. has a fifty-two week low of $35.92 and a fifty-two week high of $47.27. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $14.17 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings results on Friday, April 17th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.18. Ally Financial had a return on equity of 11.41% and a net margin of 16.47%.The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the business posted $0.58 earnings per share. The business’s quarterly revenue was up 36.4% on a year-over-year basis. Sell-side analysts predict that Ally Financial Inc. will post 5.26 earnings per share for the current year.

Ally Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 1st. Ally Financial’s dividend payout ratio is currently 29.27%.

Insider Activity at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $42.14, for a total transaction of $210,700.00. Following the sale, the insider owned 93,927 shares in the company, valued at approximately $3,958,083.78. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas R. Timmerman sold 39,675 shares of Ally Financial stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $45.17, for a total transaction of $1,792,119.75. Following the transaction, the insider directly owned 477,627 shares in the company, valued at $21,574,411.59. This represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.46% of the company’s stock.

About Ally Financial

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.